UPDATE: Credit Suisse Downgrades Steel Dynamics (STLD) to Neutral

(Updated - August 25, 2014 11:38 AM EDT)

Credit Suisse downgraded Steel Dynamics (NASDAQ: STLD) from Outperform to Neutral. The change is tied to valuation.

Analyst Nathan Littlewood said, "A recent Non-Deal Roadshow and trip to Fort Wayne (IN) to visit the Structural & Rail Division (SRD) and nearby Recycling assets confirmed our view that STLD is a high quality business run by highly capable people. We continue to believe that STLD is an attractive longer term holding. That said, recent share price outperformance leaves us on the sideline for now as we await a more attractive entry point. Our rating falls to NEUTRAL."

For an analyst ratings summary and ratings history on Steel Dynamics click here. For more ratings news on Steel Dynamics click here.

Shares of Steel Dynamics closed at $23.30 yesterday.

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